BRITISH FINANCE
FUTURE OF STERLING AUTHORITIES' CONFIDENCE LONDON, Dec. 20 One of the sensations of the week has been the Bank of England purchase of £65.000.000 from the Equalisation Fund, which encourages the view that the authorities have no fear of the future of sterling. The simultaneous reduction of the fiduciary issue, in order to prevent unjustifiable expansion of the credit basis, shows that the authorities do not intend to allow the boomlike conditions to get out of hand. The question of the probability of hardening money rates is at present being much discussed, but there is no indication that the Treasury considers that a change in monetary conditions is desirable.
Plenty of credit is still available for increasing trade activity.
MONETARY AGREEMENT BALKAN BANKS' ATTITUDE ATHENS, Dec. 20 The governors of the central banks of Greece, Yugoslavia, Rumania and Turkey at a conference expressed regret at their inability to adhere to the monetary agreement by France, Britain and America, preferring to act, in the Bank for International Settlements, as a single body, while advocating early and definite stabilisation of the currencies of the principal Powers.
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New Zealand Herald, Volume LXXIII, Issue 22608, 22 December 1936, Page 9
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186BRITISH FINANCE New Zealand Herald, Volume LXXIII, Issue 22608, 22 December 1936, Page 9
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